Europe – Online recruitment activity grows by +21% y-o-y
The latest Monster Employment Index Europe published today by job board Monster Worldwide Inc shows that longer-term online recruitment trends across Europe improved this month, with the annual growth rate for the European Index accelerating from +21% in September 2010 to +23% in October 2010.
Both production and transport-related industries reported monthly gains, these were not attached to seasonal patterns, but instead suggest continued improvement in underlying demand drivers. Both sectors saw acceleration in long-term growth rates.
The professional service segment continues to chart general improvements in demand. However, banking, finance, insurance and accounting are exhibiting more reserved growth trends.
Andrea Bertone, head of Monster Europe, commented "the October findings from the Monster Employment Index Europe show a steady pace of labour market improvement. We continue to see manufacturing and related sectors among the top trending industries in recruitment activity. Additionally, demand for workers in a number of professional services, including science and technology, is returning, suggesting that business investment is on the rise."
Germany: October saw a rise in online job opportunities in Germany for the ninth consecutive month. The German Index reported that annual growth accelerated to 30% in October, from 24% in September, its most rapid rate of growth since late 2005.
Italy: Italian hiring activity rebounded in October, following two months of decline, leaving the Index reading at its highest level since July 2010. In addition, the annual growth rate increased slightly, with opportunities now up by +15% compared to October 2009. These factors combined, coupled with the falling rate of unemployment, suggest that the Italian recruitment industry is on a path of gradual recovery.
Netherlands: Online job demand in the Netherlands rebounded with a +5% increase in October after two months of steady decline throughout the summer. Annual growth also showed a +2% rise. Industries leading the recovery include transport, and production and manufacturing, with professional services such as engineering and management also emerging from stages of long-term decline.
Sweden: Online job demand rose significantly in October, nearly matching the highs seen in May and June. Year-on-year hiring activity increased by +36%, as recent escalations in hiring activity exceeded the seasonal trends seen at this time in previous years.
UK: The October Index showed that long-term growth trends in the UK are strong despite falling slightly between September and October, reporting an annual growth rate of +21%. Long term growth trends improved in a number of professional services, led by the IT sector. With engineering, banking, finance, insurance, and management and consulting also reporting annual increases, the long term trajectory for professional services remains positive.
N.B: The Index was launched in June 2005 with data from December 2004. It is based on a monthly analysis of millions of online job opportunities culled from a large, representative selection of corporate career sites and job boards across Europe, including Monster.